Europe Microfluidics Market Forecast to 2027 – COVID-19 Impact and Country Analysis – by Product (Microfluidic Chips, Microfluidic Sensors, Devices , Micropumps, Microneedles and Other Products), Material (PDMS, Polymers, Glass, Silicon, and Other Materials), Application (In Vitro Diagnostics, Pharmaceutical and Life Science Research, Drug Discovery, and Other Applications); and Country
The Europe microfluidics market was valued at US$ 3,625.15 million in 2019 and is projected to reach US$ 12,827.36 million by 2027; it is expected to grow at a CAGR of 17.4% during 2020–2027.
The growth of the microfluidics market is mainly attributed to the factors such as adoption of microfluidics technologies in point-of-care testing, and advancement in microfluidics products are expected to propel the growth of the market. However, regulatory approval process is the major factor hindering the market growth.
Microfluidics involves processing or manipulation of small amount of fluidics. It studies various systems that can process small quantities of fluids by using tiny channels having dimensions in micrometers. Microfluidics is an emerging technology having a wide range of applications in biology, chemistry, optics and information technology. This technology is widely used for various processes such as capillary electrophoresis, sample injection in mass spectrometry, immunoassays, flow cytometry, DNA analysis, separation and manipulation of cells, PCR amplification, among others. Additionally, microfluidics is also used in the diagnosis of diseases such as cancer and research.
POC tests have the potential to improve disease diagnosis ranging from early disease detection, easier monitoring, and increased personalization. The rising innovation in the field of Microfluidics is driving the market. The major benefits of the POC devices include rapid response, cost-effectiveness, portability, and non-requirement of any specific equipment. Hence, the integration of microfluidics that has advanced the improvisation of POC diagnostics, thereby driving the growth of the microfluidics market in the forecast period.
The market is witnessing numerous products launch along with technological advancements in microfluidics, such as 3D lab-on-a-chip devices. In September 2019, Fluidigm Corporation launched a novel microfluidics-based workflow, Advanta RNA-Seq NGS Library Prep Kit. It is designed for the preparation of RNA sequencing libraries
COVID19 has affected the European countries which has led to high number of death cases.Many key players are launching product for detection of coronavirus. For instance, in May 2020, bioMérieux, announced the CE marking of VIDAS anti-SARS-CoV-2 serology tests. VIDAS anti-SARS-CoV-2 IgM and anti-SARS-CoV-2 IgG are used to measure the presence of antibodies in people who have been infected or exposed to SARS-CoV-2, which causes the COVID-19 disease.
Based on product, the microfluidics market is segmented microfluidic chips, microfluidic sensors, devices, micropumps, microneedles and other products. The devices segment held the largest share of the market in 2019. However, the market for microfluidic chips is estimated grow at the highest CAGR in the market during the forecast period.
Based on material, the market is segmented into PDMS, polymers, glass, silicon, and other materials. On the basis of application the market is segmented into in vitro diagnostics, pharmaceutical and life science research, drug discovery, and other applications. Further in vitro diagnostic is sub segmented into point-of-care testing (POC) and clinical diagnostic.
The World Health Organization (WHO), World Heart Federation, European Medical Association, National Center for Biotechnology Information, along with company websites, are a few of the major primary and secondary sources referred for preparing this report..
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